77Advances to councils

77 Advances to councils

(1)  Homes Tasmania, with the approval of the Treasurer, may make an advance to a council for the purpose of enabling the council to carry out, on land set apart or acquired for the purposes of this Act, work that appears to Homes Tasmania to be necessary for the purpose of rendering the land fit for the use to which it may be put under this Act.

(2)  An advance may only be made under subsection (1) if the Treasurer is satisfied that the council does not have sufficient funds available for carrying out the work for which the advance is to be made.

(3)  An advance under this section is to be repayable on the terms, and subject to the conditions, that are agreed between Homes Tasmania and the council.